253 Deermont Street, Panama City Beach, FL 32413 (MLS# 791996)

List Price/SqFt: 743.4

Status: Active

List Date: 2026-06-29

List Price: $799,900

Current Price: $799,900

Sub Area: 0324 - Beach - West Central

Community/Resort: None

Waterfront: No

Elementary School: West Bay

Middle School: Surfside

High School: Arnold

Directions: From west end of Panama City Beach head East on Front Beach Rd to Laguna Beach, .5 mile past Thomas Donuts, turn left onto Deermont.

Area: 03 - Bay County - Beach

Street #: 253

Street Name: Deermont

Street Suffix: Street

State: FL

Zip Code: 32413

County: Bay

Subdivision: Miramar Beach 1st

Parcel ID: 38501-000-000

Legal Description: MIRAMAR BEACH 1ST ADD 21B1 LOTS 3 & 4 BLK 4 ORB 4523 P 618

Acreage: 0.24

Design: Ranch

Lot Size (SqFt): 10638

Apx SqFt(Htd/Cooled): 1076

Construction Status: Construction Complete

SqFt Source: Prop App Site

Lot Dimensions: 115 x 92.5

New Construction: No

Garage Y/N: No

Pool: No

Sub-Type: Detached Single Family

Bedrooms: 3

Full Baths: 2

Total Baths: 2

Year Built: 1966

HOA Fee: No

New Buyer Fee: No

Last Tax Year: 2025

Brokerage Interest: No Interest

As Is: Yes

Remarks: ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot--it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: • Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. • Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. • The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing structure is a rare, mid-century modernist jewel built in the classic California Eichler style. It features stunning original terrazzo floors, striking tongue-and-groove cathedral wood ceilings, and timeless stucco construction. A preservationist's dream beach retreat or a luxury hybrid rental space with unparalleled character. THE DEVELOPER / ASSEMBLAGE OPPORTUNITY: Zoned R-1c and situated entirely in a preferred Flood Zone X (no flood insurance required by Lender!). Because the structure sits on an oversized double lot, there is an opportunity to be subdivided into two premium buildable lots with Gulf views. Crucially, this property is surrounded on all sides by vacant lots, creating a rare and highly lucrative potential assemblage play for an investor looking to capture a massive, continuous footprint on the quiet west end of PCB. Whether you choose to collect the steady $3,400+/month check, restore a mid-century modernist masterpiece with a resort-style pool yard, or leverage the surrounding vacant parcels for a major development play, the ceiling on this property is incredibly high. Sold as-is. Do not disturb tenants. Buyers to verify all dimensions and zoning specs.

Range - Electric: 1

Refrigerator: 1

Foundation - Slab on Grade: 1

Siding - Stucco: 1

Trim - Wood: 1

Patio Open: 1

Shed(s): 1

Cash: 1

Conventional: 1

Unfurnished: 1

First: 1

Improved Lots: 1

Near Beach Access: 1

Within 1/2 Mile to Water: 1

City Street: 1

City: 1

Bedroom: 1

Living Room: 1

Electricity - Connected: 1

Gulf: 1

As Is: 1

First: 1

Ceiling Fan(s): 1

Central Air: 1

MBath Shower/Tub Combo: 1